Mergers and acquisitions are in the air it seems. Not too long ago we reported about Stanley Black & Decker buying Infastech. Now, Senco Brands has just acquired Expandet A/S, a family-run manufacturing company that specializes in fasteners. Expandet fasteners target both professional and do-it-yourself building applications throughout Europe, the Middle East and Africa. The exact terms of the acquisition haven’t yet been disclosed according to the reports we’ve read, but this is yet another manufacturer looking to expand it’s fastener reach overseas.
Expandet A/S was founded in 1955 by the Mortensen family and the business is based in Graested, Denmark (and is expected to remain there). The acquisition will have Expandet reporting to Peter van der Wel who is the president of Senco Brands International.
According to Cincinnati-based Senco CEO Ben Johansen, the company purchased Expandet in order to provide their global business with additional product diversification and carry them into alternative markets. Senco is actually owned by Wynnchurch Capital and Expandet represents the company’s first acquisition since 2009.